February 2022 Updates
Private Transactions, DeFi Data, and EVM Compatibility for All
Good morning from sunny Los Angeles!
I’m Michael, dlab’s new Program Manager. In addition to connecting our founders with the resources we have available at dlab, I manage our mentor network and generate opportunities for our founders to connect with each other and industry professionals.
I’ll be posting regular updates about what’s going on at dlab, as well as news on what our portfolio companies have been up to!
Lately, I’ve been stoked about the Metaverse and recently attended a Pilates class sponsored by a vodka brand in Decentraland. If you haven’t yet had the pleasure of twisting yourself into a pretzel while hearing about the importance of the distillation process in potato-based vodkas, I’d highly recommend it.
But enough about me. I look forward to sharing the latest updates from our portfolio companies below!
Welcome to the Portfolio!
We’re excited to welcome Light Protocol to our portfolio! Light is building a scalable solution for private transactions on Solana. They’ve deployed an early version of their Light Cash app to Solana’s devnet in order to solicit feedback from community members. Try it out now and join their Discord! The Light SDK, which will enable developers to easily integrate privacy and anonymity features into their own apps, will follow soon. They’ve also open-sourced their code in preparation for their upcoming audit. Amazing progress in such little time and we’re excited to continue working with them as they move towards mainnet deployment!
Portfolio Company Updates
API3 is excited to launch their first Beacons in partnership with Amberdata. Beacons will allow smart contract developers to connect Web3 applications to continuously updated data feeds (like cryptocurrency and stock prices) on-chain, directly from reliable API sources in a transparent and cost-effective manner. Over 3,000 developers will be able to build on API3-powered Amberdata Beacons at ETHDenver where API3 is serving as the official DeFi Track sponsor.
Composable Finance has deployed Phase 2 of their Mosaic cross-chain liquidity solution. Mosaic’s layer-agnostic bridge guarantees the safe delivery of assets, while employing dynamic fees and efficiently rebalancing itself, avoiding many of the pitfalls that are common with first generation blockchain bridges. They’ve also published an updated roadmap for Picasso ($PICA), the parachain that makes this all possible.
Credmark is proud to announce its first community project, incentivizing contributions to the DeFi protocol taxonomy in their Risk Library, their best-in-class source of DeFi risk information. Credmark has also added $CMK and $xCMK to their own Risk Terminal where you can find token analysis and supply data designed to help traders and DeFi market participants make better informed decisions (note that you’ll need to stake $CMK in order to access the Risk Terminal!).
Diwala has launched their Diwala 2.0 platform and has expanded their focus in Africa, working with skill verification issuers and organizations across 6 different countries on the continent, with over 4500 active users in total.
EVM compatibility is coming to the Cardano ecosystem! dcSpark is preparing to release their Milkomeda C1 sidechain, a scalable and interoperable sidechain that uses wrapped ADA as its native asset. Stay tuned to their Twitter for more information on the upcoming launch, and get a head start by installing Flint Wallet, a fantastic new browser-based light wallet for DeFi and NFTs that will act as your gateway to the network. A number of well-known dApps have already announced that they’ll be joining the Milkomeda ecosystem and there are more to come.
For more frequent updates about dlab, our portfolio, and other web3 ramblings, follow us on Twitter!
Working on an early-stage startup or a project in the crypto world? dlab provides capital and hands-on resources to help you build faster and better. If you’re looking for pre-seed or seed stage funding, or just want to learn more, reach out to us on Twitter or fill out this application form to get started.